E.ON aumenta i profitti del primo semestre e conferma le previsioni
- Confermate le previsioni per il 2018 relative all’EBIT rettificato, previsto tra 2,8 e 3 miliardi di Euro, e all’utile netto rettificato, stimato tra 1,3 e 1,5 miliardi di Euro.
- L’EBIT rettificato del primo semestre (pari a 1,9 miliardi di Euro) ha registrato un aumento del 10% rispetto allo stesso periodo del 2017, l’utile netto (pari a 1,052 miliardi di Euro) ha segnato un incremento del 19%.
- Ulteriore riduzione del debito da 19,2 miliardi di Euro a fine 2017 a 15,9 miliardi di Euro al 30.06.2018
- Ulteriori importanti passi avanti nella transazione con RWE
Alla presentazione dei risultati semestrali a Essen il CFO di E.ON Marc Spieker ha confermato le previsioni per l’esercizio 2018: “Abbiamo registrato risultati positivi nel nostro core business— Energy Networks, Customer Solutions e Rinnovabili — anche se continuiamo a dover affrontare una forte competizione, in particolare nelle customer solutions. Facciamo fronte a queste sfide con nuovi prodotti, nuove soluzioni e – ancora meglio – processi più efficienti, in particolare per i nostri clienti. Tutti i nostri indicatori principali e gli sviluppi per l’intero Gruppo sono in linea con i nostri piani e pertanto confermiamo le previsioni per l’esercizio 2018”.
Dall’annuncio della transazione con RWE nel Marzo 2018 E.ON ha già fatto importanti passi avanti verso la piena implementazione. Insieme a RWE e innogy e in consultazione con i Comitati Aziendali di Gruppo, nel mese di maggio E.ON ha raggiunto un Accordo di contrattazione collettiva di principio con ver.di e IGBCE. A luglio è seguito un accordo quadro con il comitato aziendale di E.ON SE e il comitato aziendale di Gruppo. Entrambi gli accordi garantiscono un percorso affidabile per tutti i dipendenti in viaggio verso la nuova E.ON. Nel mese di luglio E.ON ha inoltre raggiunto un accordo con innogy per lavorare insieme in modo costruttivo, nei limiti consentiti dalla legge, alla preparazione dell'integrazione. Alla fine di luglio E.ON ha completato con successo la sua offerta pubblica di acquisto volontaria agli azionisti di minoranza di innogy. Alla fine del periodo di offerta, circa il 9,4% delle azioni innogy è stato offerto a E.ON. Sommando questa partecipazione al 76,8% detenuto in precedenza da RWE, questa corrisponde all'86,2% del capitale azionario della Società ora in possesso di E.ON.
Il presente comunicato stampa potrebbe contenere affermazioni relative a dati, fatti e avvenimenti futuri (“Forward looking statements”) basate su ipotesi e previsioni formulate dal management del Gruppo E.ON e su informazioni attualmente nella disponibilità di E.ON.
Rischi noti o ignoti, fattori d’incertezza potrebbero portare a sostanziali differenze tra le stime qui rappresentate e gli effettivi risultati futuri, la situazione finanziaria e lo sviluppo e l’andamento aziendale. E.ON SE non si assume, in nessun modo, direttamente o indirettamente, alcuna responsabilità o impegno riguardo all’eventuale aggiornamento dei sopra citati “Forward looking statements” e al loro puntuale adeguamento ad avvenimenti o sviluppi futuri.
Marcello Donini T +39 02 89448-505
E.ON increases first-half earnings and affirms forecast
Forecast for 2018 adjusted EBIT and adjusted net income affirmed
• First-half adjusted EBIT 10 percent above prior-year figure, adjusted net income up 19 percent
• Economic net debt reduced further
• Important milestones reached in transaction with RWE
E.ON delivered good results for the first half of 2018. Adjusted EBIT in the company’s core business of €1.7 billion was 10 percent above the weak prior-year figure (€1.6 billion). Adjusted EBIT for the E.ON Group as a whole likewise rose by 10 percent to €1.9 billion (prior year: €1.8 billion). Adjusted net income of €1,052 million surpassed the prior-year figure of €881 million by €171 million, or 19 percent.
Forecast for 2018 financial year affirmed
At the presentation of E.ON’s Interim Report for the first half of 2018 in Essen, E.ON CFO Marc Spieker affirmed the company’s forecast for the 2018 financial year: “Our core business — Energy Networks, Customer Solutions, and Renewables — delivered good results, even though we continue to face fierce competition, primarily in our customer solutions business. We’re meeting these challenges with new products, new solutions, and even better, more efficient processes, particularly for our customers. All the key figures and developments for the entire Group are in line with our plan, and we therefore affirm our forecast for full-year 2018.”
E.ON continues to expect the Group’s full-year adjusted EBIT to be between €2.8 and €3 billion and its full-year adjusted net income to be between €1.3 and €1.5 billion.
Good performance in core business
The Customer Solutions segment in particular contributed to E.ON’s good first-half earnings performance. E.ON enlarged its customer base relative to the prior year by approximately 100,000 household customers. Customer Solutions’ sales of €11.5 billion were slightly above the prior-year figure of €11.2 billion. Its adjusted EBIT rose by 8 percent year on year, from €440 million to €477 million.
The Energy Networks segment again generated more than half of the E.ON Group’s earnings. Its sales of €6.1 billion were 30 percent below the prior-year level of €8.6 billion. This is only attributable to a technical effect resulting from the application of a new International Financial Reporting Standard. Starting this financial year, renewables subsidies and other levies that are passed through are netted out in the income statement, which reduces both sales and costs of materials. Earnings from operations remain unaffected. Energy Networks’ adjusted EBIT of €1,070 million was roughly at the prior-year level of €1,087 million. A special item in the low double-digit million range partially offset an anticipated decline in earnings due to regulatory reasons. However, E.ON expects this segment’s earnings to decline somewhat more significantly as the year goes forward. This has already been factored into the company’s forecast for full-year 2018.
Sales at the Renewables segment rose from €710 million to €741 million, primarily because of higher output due to the commissioning of new offshore and onshore wind farms. This segment’s earnings increased by 15 percent, from €205 million to €236 million.
Earnings at Non-Core Business, which consists of PreussenElektra and the generation business in Turkey, totaled €224 million, 9 percent above the prior-year figure of €205 million.
Good operating results yield strong cash flow
E.ON’s operating cash flow of €1.4 billion was €3.5 billion lower than in the prior-year period, mainly because of an exceptionally significant one-off item, the roughly €2.85 billion refund of the nuclear-fuel tax the company received in June 2017.
Debt reduced further
Compared with the figure at year-end 2017 (€19.2 billion), E.ON reduced its economic net debt by €3.4 billion, or 18 percent, to roughly €15.9 billion. This positive development is principally attributable to the proceeds from the sale of the company’s Uniper stake and gas network in Hamburg. “We’ll use this balance-sheet flexibility to implement the transaction we agreed on with RWE in March. When it closes, it will create a new E.ON and an even more powerful company, a company focusing on smart grids and innovative customer solutions and fully dedicated to serving its customers,” Spieker said.
Important milestones reached in transaction with RWE
Since announcing the transaction with RWE in March 2018, E.ON has already reached important milestones toward implementation. Together with RWE and innogy and in consultation with the Group Works Councils, in May E.ON reached a collective-bargaining Agreement in Principle with ver.di and IGBCE. This was followed in July by a Framework Agreement with the E.ON SE Works Council and Group Works Council. Both agreements establish reliability for all employees on the road toward the new E.ON. In July E.ON also reached an agreement with innogy to work together constructively, to the degree permitted by law, in preparing for the integration. In late July E.ON successfully completed its voluntary public takeover offer to innogy’s minority shareholders. Through the end of the extended offer period, about 9.4 percent of innogy stock was tendered to E.ON. Together with the 76.8-percent stake from RWE, this equals 86.2 percent of innogy's share capital. “The agreed-on acquisition of RWE’s majority stake alone would’ve enabled us to integrate innogy into E.ON,” Spieker said. “We’re therefore very satisfied with the outcome of our voluntary public takeover offer and are pleased that many other innogy shareholders accepted our offer. Numerous options are available to us for the legal aspects of the integration after closing. We’re now focusing on the preparations for this integration and a swift antitrust approvals process.”
This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development, or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.